A unit of Abu Dhabi National Oil Company, or ADNOC, is considering a potential investment in UGI Corp.’s propane distribution unit AmeriGas, people with knowledge of the matter told Bloomberg’s Vinicy Chan and Dinesh Nair. State-owned ADNOC is working with advisers to discuss the possible purchase of a stake in AmeriGas, the report said. A transaction could value AmeriGas at several billion US dollars, the sources added. Shares of UGI are up $1.74, or over 7%, to $25.53 in Friday morning trading following Bloomberg’s report.
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